Should You Buy Micron Stock Before Thursday? Here's What History and Wall Street Suggest

By Danny Vena, CPA – Mar 16, 2026 at 1:57PM ESTKey PointsMicron stock has experienced a meteoric rise over the past year, gaining 345%.The company's artificial intelligence (AI) chip business is on fire, fueling robust revenue and profit growth. Micron's upcoming financial report will be a key hurdle for the highflier.Micron Technology (MU +4.71%) may not get the headlines bestowed upon some other players in the technology sector, but make no mistake: the company is a crucial player in the space. Its flash memory and storage processors are critical components in the graphics processing units (GPUs) that underpin the artificial intelligence (AI) revolution. Shareholders have profited handsomely as Micron leverages this opportunity, driving its sales and profits higher. This, in turn, has driven its stock price up 729% over the past three years (as of this writing) and 345% over the past 12 months. The company faces a crucial test when Micron reports its fiscal 2026 second-quarter results after the market close on March 18. Given the stock's blistering run over the past year, should investors lay out their hard-earned cash to buy shares now or wait until after this critical financial report? Let's see what the evidence suggests. Image source: Micron Technology. Chip shot Many view the dawn of AI in early 2023 as a once-in-a-generation opportunity, and Micron was well-positioned to profit. The company has long worked behind the scenes, providing a variety of semiconductors, including dynamic random access memory (DRAM), NAND flash memory, and high-bandwidth memory (HBM) chips -- and business is booming. In its fiscal 2026 first quarter (ended Nov. 27), the company generated revenue of $13.6 billion, up 57% year over year and 20% sequentially, while its diluted earnings per share (EPS) of $4.60 surged 175%. Its cloud memory segment led the charge, growing 100%. ExpandNASDAQ: MUMicron TechnologyToday's Change(4.71%) $20.06Current Price$446.19Key Data PointsMarket Cap$480BDay's Range$444.66 - $454.8352wk Range$61.54 - $455.50Volume1.4MAvg Vol35MGross Margin45.53%Dividend Yield0.11% The surge in profits was fueled by significant margin expansion. Micron's gross margin of 56% jumped 1,760 basis points, from 38.4% in the prior-year quarter. The company's cash generation was equally impressive, with operating cash flow of $8.41 billion, which grew 160% year over year and 47% sequentially. Management is predicting that the good times will continue. For the second quarter, Micron is guiding to revenue of $18.7 billion, representing 132% growth. The company's margin expansion is expected to continue, with its gross margin climbing to 67% at the midpoint of its guidance, driving diluted EPS of $8.19, up 481%. Just this week, Micron announced it had completed the acquisition of an existing cleanroom from PSMC in Taiwan, which will be retrofitted to produce DRAM and HBM processors to meet surging AI demand. Data by YCharts The chart above illustrates Micron's stock price movements during the past three years. The purple circles with the letter "E" at the center show when the company reported its financial results. In the majority of these cases, or 67% of the time, the stock price rose as investors piled into the stock on the heels of its robust financial reports. Is the stock a buy? Wall Street is extremely bullish. Of the 43 analysts who offered an opinion thus far in March, 86% rate the stock a buy or strong buy, and only one recommends selling. I generally stay away from date-driven stock purchases, focusing instead on the long-term opportunity and the trajectory of the business. Micron's recent results help illustrate why the ongoing demand for its AI-centric chips is expected to continue. For investors looking to open a position in Micron stock or increase an existing one, now might be a good time. Despite its robust results and stellar outlook, Micron stock is selling for just 13 times forward earnings, well below its three-year average multiple of 38. The evidence suggests that concerns about ongoing demand for AI are unfounded, and most experts believe AI adoption is just getting started. Big Four accounting firm PwC estimates that AI could contribute as much as $15.7 trillion to the global economy by 2030. Given the company's track record of growth, increasing sales and profits, and strong secular tailwinds, the evidence suggests that Micron stock is a buy.Read NextMar 16, 2026 •By Harsh ChauhanPrediction: Micron Technology Stock Will Soar Higher After March 18Mar 16, 2026 •By Keithen DruryBetter Chip Stock to Buy: Micron or Taiwan Semiconductor?Mar 16, 2026 •By Rich SmithWhy Micron Stock Popped TodayMar 16, 2026 •By Keith SpeightsWall Street Likes SanDisk More Than Micron. Should You?Mar 15, 2026 •By Adria CiminoBillionaires David Tepper and Michael Platt Sold Nvidia Shares and Bought This AI Stock That's Climbed 40,000% Since its IPO.Mar 15, 2026 •By Manali Pradhan, CFAShould You Buy Micron Before Earnings? Here's the 1 Thing That Matters.About the AuthorDanny Vena, CPA, is a contributing Motley Fool technology analyst specializing in artificial intelligence, cloud computing, semiconductors, software, cybersecurity, and consumer electronics. He is a Certified Public Accountant and previously worked as a controller and accountant across small and midsize businesses. Danny also served 13 years in the U.S. Army. He holds a bachelor’s degree in accounting from the University of Phoenix.TMFLifeIsGoodX@dannyvenaStocks MentionedMicron TechnologyNASDAQ: MU$446.01(+4.67%)+$19.88*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.